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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Thursday, 19 May 2011 06:04
SPOT GOLD
SPOT GOLD closed @ 14965 which was ABOVE the open and was within prior day's trading range. The High was 0.5 Dollars from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 0.5 Dollars from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 15165 holds and Daily Trend is Turning Down while 15765 holds, so expect the price to be Choppy until Breakout. The Daily time frame, the Price is within the MA's , the Bulls gained towards the Close. The Patterns are suggesting a Range Trading until the break. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a limited upside bias. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting that the highs may be limited, 15025-165 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting strength but may be limited.
BULLS: 14895 14785 14715 BEARS: 15045 15145 15225
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
NZDUSD
NZDUSD closed @ 7890 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 7850 holds and Daily Trend is Turning Down while 8125 holds, so expect the price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame ,the Price is within the MA's ,the Bulls gained towards the Close. The Patterns are suggesting a Range trading until the break . The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected but may be limited. The 15min time frame, suggesting that the upside may be limited , 7865-50 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels and High-Low time does not give us good signals.
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USDSGD
USDSGD closed @ 12400 which was BELOW the open and breached the previous day's low. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 12485 holds and Daily Trend is Turning Up while 12215 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is within the MA's , the Bears gained towards the Close. The Patterns are suggesting that we may see a pullback lower but may be limited . The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting lower lows are expected but may be limited . The 15min time frame, suggesting that the downside may be limited, 12455-85 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels and High-Low time does not give us good signals.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.